11b pound bid for British Energy

Germany's RWE and Britain's Centrica have both made indicative bids for British Energy valuing the nuclear power operator at up to 11 billion pounds, sources close to the matter said.

India deal helps New York law firm to prosper

Cleary Gottlieb Steen & Hamilton, a 950-lawyer New York firm, got the job when bankers needed deal-savvy attorneys to help launch a $3 billion sale of shares in Reliance Power Ltd, India's third-largest utility.

Special Report

Island that reflects a nation's success

Hainan Party Chief Wei Liucheng says the province must take the lead in China's free trade zone construction, a strategy raised by the 17th National Congress of CPC.

Fields of green

Cai Fusheng, a 72-year-old lifelong farmer, remembers that in the days of arranged marriages in rural Hainan province's Yongtan village, a prospective suitor was evaluated by the number of buckets outside his family's house.

Better life under eco-village plan

Today, Hainan's government is sowing the seeds of innovative rural reform in the province's countryside through the "ecological civilization village" program, and local farmers are happy to be reaping the benefits.

Business International

Rice price at new record

Rice climbed to a record for a fourth day as the Philippines, the biggest importer, announced plans to buy 1 million tons and some of the world's largest exporters cut sales to ensure they can feed their own people.

Oil stays at $109 as commodities lure investors

Crude oil traded around $109 a barrel as investors looked to commodities for higher returns and refinery disruptions tightened global distillate markets.

US govt 'may have to bail out banks'

The Bank of Japan said yesterday Washington may have to use public funds to bail out US banks hit by the credit crisis as Tokyo joined European calls for the Group of Seven states to work together calm financial markets.

Bear rescue averted 'systemic risk'

Merrill Lynch & Co Chief Executive Officer John Thain said the US Federal Reserve's rescue of Bear Stearns Cos helped avert "systemic risk" to the global financial system posed by the credit market meltdown.

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